double zig zag
Info
The double zig zag is a Expert Advisor for MetaTrader 5 that the expert advisor uses two zigzag indicators for analysis: a smaller zigzag with parameters (13. 5,3) and a larger zigzag with parameters multiplied by eight: (13*8,5*8,3*8)to make a trading decision, the two legs of the last peak of a larger zigzag (13*8,5*8,3*8) are analyzed, while the number of peaks of the smaller zigzag (13,5,3) contained in these two legs is counted.
Usage
This tool is typically used for automated trading on major forex pairs and gold.
Platform
This Expert Advisor works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Experts folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use double zig zag
1. Installation: Open the "File" menu, select "Open Data Folder," navigate to MQL/Experts, paste your file, and restart the terminal.
2. Activation: Drag the EA from the Navigator onto a chart, ensure "Allow live trading" is checked in the Common tab, and verify the AutoTrading button is green.
3. Optimization: Right-click your chart, choose "Expert List," click "Properties" to adjust inputs, and save your preferred setup as a set file for future use.
4. Maintenance: Regularly check the "Experts" tab in the terminal window to monitor trade logs and potential execution errors.
Frequently Asked Questions
Q: Why is my EA not opening trades? A: Check the "AutoTrading" button, ensure "Allow live trading" is enabled, and verify your broker allows automated trading on your account type.
Q: Can I run multiple EAs on one chart? A: No, each chart can only host one active EA; however, you can open multiple charts for different currency pairs to run several EAs.
Q: What does the "smiley face" icon mean? A: A smiley face in the top-right corner of the chart indicates the EA is successfully running; a frowny face means it is disabled.
What this tool does
the expert advisor uses two zigzag indicators for analysis: a smaller zigzag with parameters (13.
Typical Use Case
This Expert Advisor excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Expert Advisor works on MetaTrader 5. Place the file in the MQL5/Experts folder and restart the terminal.
Description & Settings
Related: double up с изгибом - another powerful expert for MetaTrader 5 traders.
the expert advisor uses two zigzag indicators for analysis: a smaller zigzag with parameters (13.5,3) and a larger zigzag with parameters multiplied by eight: (13*8,5*8,3*8)
Also recommended: double ma crossover ea - similar expert with strong performance on MetaTrader 5.
to make a trading decision, the two legs of the last peak of a larger zigzag (13*8,5*8,3*8) are analyzed, while the number of peaks of the smaller zigzag (13,5,3) contained in these two legs is counted.if a signal to open a buy position is received, all sell positions are closed. vice versa: if a signal to open a sell position is received, all buy positions are closed.
expert advisor parameters:
k is the ratio of the number of peaks of the smaller zigzag in the legs of the larger zigzag
k2 is the ratio of the price difference in the peaks of the larger zigzag
example:
the larger zigzag (13*8,5*8,3*8) is shown in red, the smaller zigzag zigzag (13,5,3) is yellow.
respectively,
abc
are the peaks of the larger zigzag (13*8,5*8,3*8).
the legs
ab
and
ac
contain nine peaks of the smaller zigzag (13,5,3).
testing results on eurusd,m1:
You may also like: doubler - excellent alternative for expert users on MetaTrader 5.
Source Code
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⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.